Section 44 in The Maharashtra Non-Trading Corporations Act, 1959
44. Effect of voluntary winding up on status of corporation.
In the case of a voluntary winding up, the corporation shall, from the commencement of the winding up, cease to carry on its business, except so far as may be required for the beneficial winding up of such business :Provided that the corporate state and corporate powers of the corporation shall continue until it is dissolved.
